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Jenny
Jenny, Solicitor
Category: Law
Satisfied Customers: 7731
Experience:  Qualified Solicitor specialising in Employment Law and general legal matters. Please start your question For Jenny Only
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Assistant: How can I help? Are you able to help in cases

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Hello
Assistant: Hello. How can I help?
Customer: Are you able to help in cases involving incorrect financial advice?
Assistant: Where is this? It matters because laws vary by location.
Customer: Yorkshire
Assistant: What steps have been taken so far?
Customer: Complained to individual concerned who admitted error but his company later refused to accept liability
Assistant: Anything else you want the Lawyer to know before I connect you?
Customer: Then Complained to ombudsman who need independent assessment of financial advice given relating to a coue of existing income protection policies

Hello my name is Jenny I am a solicitor and I am happy to help you today. What would you like to know about this please?

Customer: replied 1 month ago.
I need to know what action I can take to recover my financial losses due to incorrect advice on my existing income protection policies which I put in place in the event I fell ill and unable to work
Customer: replied 1 month ago.
I'm sorry I didn't realize there would be additional costs

Ok who was your contract with? Was it the individual or a company?

No additional costs , the phone call is optional.

Customer: replied 1 month ago.
I was diagnosed with a serious condition a couple of years ago and discovered I didn't have the financial protection in place

Ok understood but who did you take the financial advise from? Who was the contract with for that advice?

Customer: replied 1 month ago.
Ended up being helped by charities and handouts before finally claiming benefits

Ok but you said to start off with that you have suffered as a result of negligent financial advice. Was that given by an individual working for a limited company, how long ago was the advice received?

Customer: replied 1 month ago.
He was meant to be independent working for a larger company FCA regulated

Ok but was there any correspondence from him? A contract?

When did you receive the advice?

Customer: replied 1 month ago.
He advised me to change my existing long standing ipp in place for over 25 years to an unacceptably low benefit level
Customer: replied 1 month ago.
And advised me to cancel my other ipp policy which left me with insufficient cover
Customer: replied 1 month ago.
Also mis sold a new illness policy we didn't need
Customer: replied 1 month ago.
Advice received 2015
Customer: replied 1 month ago.
Fell ill in 2017

Ok the first thing that you need to establish is whether you received the negligent advice from him as an individual or from the company that he worked for.

If it is the company he worked for then the claim will be against the company.

You need to send a 'letter before action' stating that you have suffered a loss as a result of his negligent advice and that they need to inform their insurers of a claim.

You need to set out your claim and your losses in the letter.

It is best to get a solicitor to assist with this if possible. If you have home insurance you may have legal expenses cover.

Is there anything further I can help you with today please?

Customer: replied 1 month ago.
Have gone to ombudsman service who have upheld some of my claim but given preliminary decision so far and I need help to respond effectively
Customer: replied 1 month ago.
Preferably with and independent assessment of the advice he gave me, where can I get help with this?

You need to get advice from an independent financial adviser to state whether the advice you were given was reasonable or not.

Once you know it was unreasonable you can take steps to bring a claim.

Is there anything I can clarify for you please?

Customer: replied 1 month ago.
Not sure if he was working freelance but he was sent to us by his company who cover the uk
Customer: replied 1 month ago.
We put in a complaint to the company which sent him
Customer: replied 1 month ago.
Can you email some points please otherwise I will forget after this chat

The claim is against the company if the company were sent.

I can't email but you can print this page off or log into it at any time.

Do you have any further questions about this please?

Customer: replied 1 month ago.
The advisor agreed a fixed fee for this service but then went on to do a full financial review which we didn't want and coerced us into buying another financial policy which we didn't need, he said he didn't want the fee originally agreed as the commission on the new policy would cover his fee

Hello is there anything further I can help you with today please?

I don't think you need to worry about the way that you paid, whether it was through commission or in cash you still have the right to professional advice and have a claim in the event that you were incorrectly advised.

is there anything I can clarify for you please?

Customer: replied 1 month ago.
Not sure if my home insurance policy will cover a legal matter such as this nor how to find an independent financial adviser willing to comment on the advice previously received?
Customer: replied 1 month ago.
Can I still take legal action even if the ombudsman disagrees with my version of events? The financial adviser has cleverly covered his tracks I'm afraid

Most home insurance policies DO contain legal expenses cover for all members of the household. As there is an ombudsman decision which has upheld some of the issues it is likely you will be covered at least in respect of those issues. I would strongly suggest you call them to rule it out as an option.

Re financial advisor you will just need to call around.

Is there anything I can clarify for you?

Customer: replied 1 month ago.
Call around???

Yes you will need to find an expert witness unless you engage a solicitor to do so for you.

Is there anything else I can assist you with?

Customer: replied 1 month ago.
Thank you, I am still not fully recovered from my treatment last year and very tired of trying to deal with this on my own. Kindest Regards

no problem, if have any further questions please do ask, otherwise please do take the time to rate my answer before leaving the site, thank you and all the best.

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